Life’s Financial Journeys
Reducing Debt. “What are the basics to understanding debt and how do I reduce it?”
Debt can be a great resource for the purchase of assets most wouldn’t be able to pay for in cash. However, taking on too much debt is counterproductive to our financial success.
Understanding how debt affects your credit score and creating strategy to keep debt below certain thresholds is a step in the right direction in obtaining financial freedom.
The following subtasks may assist you in reducing debt. You will find detailed resources for these subtasks under the links in the right column of this page.
Subtask 1: Checking and understanding your credit reports and credit score
Subtask 2: Take steps to strengthen your credit
Subtask 3: If necessary, seek financial counseling
Military Life Tasks
1. Budgeting finances
Reducing debt Subtasks